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<br />, <br /> <br />FINANCIAL PROGRAM <br /> <br />< <br />. <br /> <br />The capital requirements for Phase I of the recommended construction program <br /> <br /> <br />would be met by a combination loan-grant from the Farmers Home Administration. <br /> <br /> <br />Phase II of the water system improvements would be financed by a 30-year loan <br /> <br /> <br />from the State of Colorado. <br /> <br />It is recommended that in-town water rates be raised to $8 per month for a base <br /> <br /> <br />use of 5,000 gallons per month. Additional water used over the minimum of 5,000 <br /> <br /> <br />gallons per month would be paid for at a unit rate of 60c per thousand gallons. <br /> <br /> <br />An increase in tap fees is also recommended. The out-of-town water rates would <br /> <br /> <br />be 1.5 times in-town rates across the board, <br /> <br />Details of the FmHA and CWCB loan repayment are presented on tables included in <br />Chapter VI II of this report. <br /> <br />, <br /> <br />RECOMMENDATIONS <br /> <br />. <br /> <br />It is the recommendation of the Town's water engineers that the Town of Hotchkiss <br />proceed with Phase I of the recommended construction program during the summer <br />of 1976. <br /> <br />, <br /> <br />. <br />